Rent movies on iTunes for as little as $2.99

There was no shortage of announcements at MacWorld. The biggest (and most expected) was the MacBook Air. However, the other big news (that was also predicted by many) was the iTunes Movie rentals. The rumors pretty much hit this one on the head, but there were a few surprises.

First up, all of the major movie studios (Paramount, Sony, Warner and Universal among others) are on board with it. The rentals will run you $2.99 for older titles, while new releases will be $3.99. You won’t be able to rent movies as soon as they are released on DVD though, you’ll be forced to wait 30 days.

When you rent a movie you’ll have up to 30 days to begin watching it. Once you have started watching it, you have 24 hours to watch it as much as you like. In all, it sounds pretty cool

Speaking of movies, Fox and Apple teamed up for something really cool. This actually pertains to movies that you purchase, rather than rent. When you buy a Fox DVD, you’ll be able to pop the DVD into your computer and create a “digital copy” which you can use on your computer, iPod, Apple TV or what have you. It looks like this will be showing up on new Fox titles, the first being the Family Guy special “Blue Harvest” (which rocks if you haven’t seen it).